Casey’s General Stores (NASDAQ:CASY) Releases Earnings Results

Casey’s General Stores (NASDAQ:CASYGet Free Report) posted its earnings results on Monday. The company reported $4.52 EPS for the quarter, beating analysts’ consensus estimates of $3.36 by $1.16, MarketWatch Earnings reports. The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.90 billion. Casey’s General Stores had a net margin of 2.96% and a return on equity of 17.13%. The company’s revenue was down 13.1% on a year-over-year basis. During the same period last year, the firm posted $4.09 EPS.

Casey’s General Stores Stock Down 1.0 %

CASY stock opened at $239.40 on Tuesday. Casey’s General Stores has a one year low of $197.22 and a one year high of $257.86. The stock has a market capitalization of $8.95 billion, a PE ratio of 20.08 and a beta of 0.83. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.59 and a current ratio of 0.99. The company has a fifty day moving average of $246.65 and a 200-day moving average of $230.89.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CASY. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Casey’s General Stores from $294.00 to $278.00 in a research report on Wednesday, June 28th. StockNews.com initiated coverage on shares of Casey’s General Stores in a research report on Thursday, August 17th. They issued a “buy” rating on the stock. Stephens reiterated an “overweight” rating and set a $280.00 price target on shares of Casey’s General Stores in a research note on Wednesday, August 23rd. Benchmark reiterated a “buy” rating and set a $275.00 price target on shares of Casey’s General Stores in a research note on Friday, July 14th. Finally, Wells Fargo & Company increased their price target on shares of Casey’s General Stores from $250.00 to $260.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 6th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $266.75.

Read Our Latest Stock Analysis on CASY

Institutional Trading of Casey’s General Stores

Several hedge funds and other institutional investors have recently made changes to their positions in CASY. Morgan Stanley lifted its stake in shares of Casey’s General Stores by 430.5% in the fourth quarter. Morgan Stanley now owns 1,141,475 shares of the company’s stock valued at $256,090,000 after purchasing an additional 926,324 shares during the period. Norges Bank purchased a new stake in shares of Casey’s General Stores during the fourth quarter worth about $82,961,000. Goldman Sachs Group Inc. grew its holdings in shares of Casey’s General Stores by 152.8% during the first quarter. Goldman Sachs Group Inc. now owns 384,281 shares of the company’s stock worth $76,153,000 after buying an additional 232,277 shares in the last quarter. Alyeska Investment Group L.P. grew its holdings in shares of Casey’s General Stores by 1,033.1% during the first quarter. Alyeska Investment Group L.P. now owns 174,543 shares of the company’s stock worth $37,782,000 after buying an additional 159,139 shares in the last quarter. Finally, Weiss Multi Strategy Advisers LLC purchased a new stake in shares of Casey’s General Stores during the first quarter worth about $21,799,000. Institutional investors and hedge funds own 85.43% of the company’s stock.

About Casey’s General Stores

(Get Free Report)

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. Its stores offer pizza, donuts, breakfast items, and sandwiches; and tobacco and nicotine products. The company's stores provide soft drinks, energy, water, sports drinks, juices, coffee, and tea and dairy products; beer, wine, and spirits; snacks, candy, packaged bakery, and other food items; ice, ice cream, meals, and appetizers; health and beauty aids, automotive products, electronic accessories, housewares, and pet supplies; and ATM, lotto/lottery, and prepaid cards.

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Earnings History for Casey's General Stores (NASDAQ:CASY)

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